Fairwinds Credit Union is now the official student banking partner for the University of Central Florida.

The Orlando-based credit union will replace SunTrust Banks Inc., which has been the university's banking student partner for the past decade, Orlando Sentinel reports. SunTrust and UCF could not come to an agreement for the renewal of the bank's 10-year contract earlier this year.

Fairwinds won a five-in-a-half-year deal with UCF, outbidding some of the area's largest banks and even UCF's own credit union, and will open in the former SunTrust branch on campus in January.

This is the first credit union to hold the title of banking partner in the school's history.

Fairwinds Credit Union is now the official banking partner of the University of Central Florida, replacing SunTrust Bank Inc.